Is Cypress Semiconductor a Good Buy Going Into Q3 Earnings?

Is Cypress Semiconductor a Good Buy Going Into Q3 Earnings?

Investors will be eagerly looking forward to Cypress Semiconductor's (NASDAQ: CY) upcoming fiscal third-quarter results on Oct. 26, hoping that the chipmaker will be able to extend its terrific run on the stock market. Cypress shares have rocketed almost 40% this year, and they currently trade close to 52-week highs on the back of a potential design win in Apple's latest iPhone.

Not surprisingly, Cypress will be expected to deliver a robust third-quarter performance and a sunny outlook. But will the semiconductor specialist be able to live up to Wall Street expectations? Let's find out.

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Source: Fool.com